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a set of firms that, though legally independent, are bound together by informal and formal ties and are accustomed to taking coordinated action are known as .

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A set of firms that, though legally independent, are bound together by informal and formal ties and are accustomed to taking coordinated action are known as business Groups.

A firm, such as a corporation, is a business organization that manufactures and sells products and services with the intention of generating income and turning a profit. A single proprietorship, partnership, limited liability company, or corporation are examples of firms.

An economic entity known as a group of companies is made up of a collection of firms, some of which may be controlled by the same company. A group of businesses is a type of economic entity made up of a number of businesses that are either owned by the controlling business or are owned by it.

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